Hair Removal Devices Market Size (2024 - 2029)

The hair removal devices market is anticipated to experience substantial growth, driven by factors such as the increased availability of advanced products, heightened awareness of aesthetic appeal, and rising disposable incomes. The market's expansion is further supported by the growing adoption of hair removal procedures and strategic activities by key players, including product launches and distribution partnerships. Although the initial impact of the COVID-19 pandemic led to a decline in demand, the market has since gained momentum, with a notable rise in the use of home-use devices. Despite these positive trends, the high cost of hair removal devices may pose a challenge to market growth.

Market Size of Hair Removal Devices Industry

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Hair Removal Devices Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.23 Billion
Market Size (2029) USD 1.95 Billion
CAGR (2024 - 2029) 9.59 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Hair Removal Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Hair Removal Devices Market Analysis

The Hair Removal Devices Market size is estimated at USD 1.23 billion in 2024, and is expected to reach USD 1.95 billion by 2029, growing at a CAGR of 9.59% during the forecast period (2024-2029).

The COVID-19 pandemic had a substantial impact on the hair removal devices market initially. The strict lockdowns and government regulations intended to impede the spread of COVID-19 resulted in a decrease in demand for products across aesthetic segments. However, the sales of home-use hair removal devices observed a significant increase during the pandemic. For instance, a cross-sectional survey conducted to evaluate the practices related to the use of light-based home-use hair removal devices was published in January 2022 in the International Journal of Trichology (Hair Research Society of India), and the results of the survey showed a significant rise in adoption of light-based home-use hair removal devices among the population during the outbreak. Thus, the COVID-19 outbreak affected the market's growth notably in its preliminary phase; however, the market is expected to gain traction during the post-pandemic period due to the significant increase in demand for hair removal devices globally.

Factors such as the rise in the availability of advanced products, increasing awareness about enhancing aesthetic appeal, and the rise in disposable income levels and spending on personal care products are among the major factors driving the growth of the studied market. Additionally, the increasing adoption of hair removal procedures is also expected to contribute to the growth of the market. For instance, in the report published by the Aesthetic Society published in 2022, the number of hair removal procedures performed among females in the United States was 423,861 in 2021, and among males was 26,430. Therefore, the adoption of hair removal procedures is poised to accelerate the growth of the hair removal devices market globally and is expected to increase in the future.

In addition, advanced product launches and strategic activities by major players, and rising product approvals in the market are positively affecting the growth of the studied market. For instance, in March 2022, Cynosure, entered into a distribution partnership with Jeisys Medical KK in Japan. Under the terms of the agreement, Jeisys Medical will have exclusive distribution rights for key premier products within Cynosure's energy-based laser portfolio, including hair removal devices in Japan. Also, in May 2021, Philips launched the Lumea Series 9000, its fastest and most efficient intense pulse light hair removal solution for home use. Thus, owing to the product launches and partnerships, the studied market is expected to have significant growth over the forecast period.

However, the inflated cost of hair removal devices is likely to impede the market's growth.

Hair Removal Devices Industry Segmentation

As per the scope of the report, hair removal is known as epilation or depilation, where the body hair, head hair, or facial hair is removed deliberately. Hair removal devices are used to permanently or temporarily remove hair from the head, face, or body. The Hair Removal Devices Market is segmented by Product Type (Laser Devices, Intense Pulse Light Devices, and Other Energy-Based Devices), End-User (Dermatology Clinics, Beauty and Skin Care Centers, and Other End-Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Product Type
Laser Devices
Intense Pulse Light Devices
Other Energy-Based Devices
By End User
Dermatology Clinics
Beauty and Skin Care Centers
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Hair Removal Devices Market Size Summary

The hair removal devices market is poised for significant growth, driven by factors such as the increasing availability of advanced products, heightened awareness of aesthetic appeal, and rising disposable incomes. The market experienced an initial downturn due to the COVID-19 pandemic, which led to decreased demand in aesthetic segments; however, there was a notable surge in the adoption of home-use hair removal devices during this period. The post-pandemic phase is expected to see a resurgence in demand globally, supported by the growing popularity of hair removal procedures. The market is further bolstered by strategic partnerships and product launches by key players, which are enhancing the availability and variety of hair removal devices.

The laser devices segment, in particular, is anticipated to witness robust growth due to their precision, speed, and effectiveness in long-term hair reduction. Continuous product innovations and approvals are contributing to the segment's expansion. North America is expected to hold a significant market share, driven by the availability of technologically advanced products and a high level of consumer awareness regarding personal grooming. The region's market growth is also supported by the increasing number of hair removal procedures and the establishment of clinics offering advanced services. The competitive landscape is characterized by a fragmented market with numerous global and regional players, including Procter & Gamble, Venus Concept, and Cynosure, among others, actively contributing to the market's development through new product offerings and technological advancements.

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Hair Removal Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Advent of Innovative and Technologically Advanced Hair Removal Devices

      2. 1.2.2 Rise in Disposable Income Levels and Spending on Personal Care Products

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Hair Removal Devices

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product Type

      1. 2.1.1 Laser Devices

      2. 2.1.2 Intense Pulse Light Devices

      3. 2.1.3 Other Energy-Based Devices

    2. 2.2 By End User

      1. 2.2.1 Dermatology Clinics

      2. 2.2.2 Beauty and Skin Care Centers

      3. 2.2.3 Other End Users

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Hair Removal Devices Market Size FAQs

The Hair Removal Devices Market size is expected to reach USD 1.23 billion in 2024 and grow at a CAGR of 9.59% to reach USD 1.95 billion by 2029.

In 2024, the Hair Removal Devices Market size is expected to reach USD 1.23 billion.

Hair Removal Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)